Constructing the model, Managerial Accounting

Constructing the Model


1) Identify the objectives of the simulation (A detailed listing of the results expected will help to clarify the output variables.

2) Recognize the input variables. Differentiate among controlled and non-controlled variables.

3) Where necessary determine the probability distribution

4) Identify any parameters and status variables

5) Identify the output variables

6) Determine the logic of the model


The key questions are how the input variables changed into output results is, what formulae/decision rules are required? How will the probabilistic elements be deal with? How must the outcomes be presented?

Posted Date: 12/7/2012 5:55:16 AM | Location : United States

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